Lucid Diagnostics starts Medicare reimbursement for EsoGuard and closes $15 million preferred-stock placement
Lucid Diagnostics Inc. said it is submitting Medicare claims for EsoGuard tests and receiving payments at the established Clinical Laboratory Fee Schedule rate of $1,938.01 per test. It closed a $15.0 million private placement of newly designated Series C Convertible Preferred Stock on October 21, 2026, at $1,000 per share and a conversion price of $0.3519 per common share. Existing long-term shareholders participated, including holders of a majority of the company's 12.0% senior secured convertible notes due 20...
Key takeaways
Lucid Diagnostics began receiving Medicare payments for EsoGuard tests performed at one of its two CLIA-certified laboratories.
The Medicare payment rate for EsoGuard PLA code 0114U is $1,938.01 per test.
The company closed a $15.0 million Series C Convertible Preferred Stock private placement on October 21, 2026.
The preferred stock was purchased at $1,000 per share and is convertible into common stock at $0.3519 per share.
Participating investors included existing long-term shareholders and holders of a majority of the company's 12.0% senior secured convertible notes due 2029.
Participating noteholders acknowledged that Medicare payments addressed the concerns underlying the notes' Medicare-related event of default provision.
Lucid agreed to file a resale registration statement for the underlying common shares within 120 days after closing.
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